Tango Therapeutics (NASDAQ:TNGX) posted a significant rally Wednesday after presenting new clinical data at the opening session of the 12th Annual Cantor Fitzgerald Global Healthcare Conference, revealing that its lead asset vopimetostat has achieved robust response rates in MTAP-deleted pancreatic cancer and is on track toward regulatory approval.
Tango shares climbed as much as 6.52%, reaching $24.18, after the stock closed Tuesday at $22.70. The share price recovered part of a multi-year decline; the stock has traded between $6.25 and $34.39 over the past year. Wall Street's price targets range from $24 to $69.
Vopimetostat, a PRMT5 inhibitor, paired with Revolution Medicines' daraxonrasib — a RAS inhibitor — delivered a 92% overall response rate in patients with second- and third-line MTAP-deleted pancreatic ductal adenocarcinoma, based on 11 responses out of 12 evaluable patients. A safety cohort enrolled 25 patients. When combined with Revolution's zoldonrasib, vopimetostat achieved a 52% overall response rate.
A notable finding was the combination's improved tolerability. Daraxonrasib given as a single agent produces high rates of rash — roughly 80% of patients, with 14% experiencing Grade 3 rash. In the combination data presented, the rash rate fell to about 50%, with zero Grade 3 events, at the same exposure level. The reduction extended to stomatitis, nausea, vomiting and diarrhea as well.
"What we observed, to our surprise but great delight, is that the rate and severity of daraxonrasib-mediated toxicities were lower in combination with PRMT5 than with daraxonrasib as a single agent," said Adam Crystal, Tango's president and head of research and development.
The addressable patient population is substantial. MTAP deletions occur in approximately 30% to 40% of pancreatic cancer patients, meaning roughly 60,000 people per year in the United States could benefit from PRMT5 inhibitor therapy, according to the company.
CEO Malte Peters said the company has concentrated its efforts around the lead program. "We have now crystallized a very promising PRMT5 inhibitor as our lead compound and started publishing data about that compound two years ago. The entire company, I think, is focused laser sharply on evolving that data set," Peters said.
The financial runway is secure. Tango ended the second quarter of 2024 with more than $1 billion in cash. CFO Matt Gall said that balance "funds everything needed to get approved in MTAP-deleted pancreatic cancer" — including Phase III execution, overhead and infrastructure, and the commercial build-out — clearing the path toward filings with the U.S. FDA, European Medicines Agency and Japanese regulatory authorities.
Beyond pancreatic cancer, Tango is advancing TNG462 in non-small cell lung cancer. The program has dosed 41 MTAP-deleted NSCLC patients as of October 2023, with earlier data showing a 27% overall response rate across all indications. About 15% of NSCLC patients harbor MTAP deletions, and roughly 30% present with brain metastases.
Tango is also developing TNG456, a blood-brain-barrier-penetrant PRMT5 inhibitor, in late-stage dose escalation for solid tumors including NSCLC and glioblastoma. Glioblastoma carries particular unmet need: approximately 45% of GBM patients have MTAP deletions, and the disease claims roughly 7,000 lives annually in the United States. The current standard-of-care option, lomustine, yields an overall response rate of about 10%.
The data was presented on the first day of the conference, with the transcript published Wednesday, September 9, 2026, at 10:25 AM by Cantor biotechnology analyst Eric Schmidt.
